Fort Worth calls Nov. 4 election for funding of new Will Rogers arenaAugust 12, 2014
By Scott Nishimura
The Fort Worth City Council unanimously voted to call a Nov. 4 election on funding a new 14,000-seat multipurpose arena at the Will Rogers Memorial Center.
Three sources of funding will be on the ballot:
- A tax on tickets sold to events held at the arena, capped at 10 percent of the ticket price;
- A tax on parking in a parking facility that serves the arena, capped at $5 of the total parking charge at the time of the arena’s first public event;
- A tax on each stall or pen used or occupied by livestock during events at the arena, capped at $1 a day and up to $20 for an event.
City officials have said their goal is that new revenue volume generated by the arena would overtake the need to raise tax rates.
City officials estimate the arena would cost $450 million. A nonprofit, Event Facilities Fort Worth, has committed to raise at least half that.